(1) A person other than a registered insurer, a registered insurance agent, a registered insurance salesman or a registered insurance broker shall not have or use the word “insurance” or “assurance” or any derivative thereof in the name under which such person carries on business.
(2) Despite section 14 and section 55 the Registrar shall not register an applicant as an insurer if the name under which the applicant desires to be registered is identical to or so nearly resembles the name of a registered insurer as to be likely to be mistaken for it, unless that registered insurer is being wound up or being dissolved or has ceased to carry on insurance business in Saint Lucia or consents to the registration of the applicant under the name in question.
(3) The Registrar shall not register an applicant as an insurance broker if the name under which the applicant desires to be registered is likely to suggest that the applicant is an insurer.
(4) The Registrar shall not register an insurance agent if the name under which he or she desires to be registered is likely to suggest that he or she is an insurer or an insurance broker.
(5) A registered insurer, insurance broker or insurance agent shall not change the name under which he or she is registered without the prior written permission of the Registrar.